| Nonetheless, auto leasing now accounts for the distribution of more than
one-third of all new cars. Problems with auto leases have been so great that
Jack Norris of the Florida attorney generals office said his state has
recovered millions of dollars for consumers who were defrauded or misled. |
| New Car Buying
Why is the Internet the best way to buy a new car?
What makes CarPrices.com different from all the other buying services?
Car Secrets Revealed $$$
Choosing New-Car Options Wisely
Window Stickers Explained
Negotiating a Better Car Deal
How to Get Your Way at the Auto Dealer
Consumers Guide to Buying a Used Car
Find Out Before You Buy
How to Get Your Way at the Auto Dealer |
| The Fed also showed off a new brochure, Keys to Vehicle Licensing, which
helps explain the new form and new rules. Frank McCarthy, executive vice
president of the National Automobile Dealers Association, said the brochure
should be available at dealers. Consumers can also go to the FTCs Web site
at http://www.ftc.gov, click the logo of an automobile and get the brochure
and other background information. |
| Money factor (generally expressed as the APR of the loan
divided by 2400). Your bank can tell you what the rates are. Sometimes the
automakers will offer low APRs to encourage people to lease; the lowest
Ive seen was 1.5% for the Isuzu Trooper last year. Not bad! But beware,
some automaker charge MORE than the banks. |
| WASHINGTON (Reuters)—Two government agencies launched a campaign Tuesday,
December 9, to tell consumers they have a right to know a lot more about
auto leasing, starting next year.
New disclosure rules take effect on Jan. 1, 1998, that will give consumers a
window on auto lease provisions, to combat confusing claims that make it
difficult or impossible to compare competing offers. |
